Jamie Fallon

EM USD sovereign index closed fairly flat yesterday, but most EM sovereign eurobonds are trading in the green today. Turkish Lira losses slowed to only -0.36% today as Erdoğan's finance minister pick sparks hopes of a policy pivot. Ecuador saw larges...

US debt ceiling passes Congress, seeing some easing in risk-free rates. Sri Lanka's CBSL announces drastic 250bps rate cut, while Nigeria's CBN denies reports of devaluation. Ukraine IMF loan review passes staff level, while resumption of World Bank....

DM and EM equities flat ahead of US congressional debt ceiling vote. Brent oil prices down -1.96% to US$72.05, hurting exporters such as Angola, which saw -1.23% currency losses today. Faster-than-expected manufacturing PMI contraction in China feeds...

The Turkish lira traded down 1.4% vs. USD today after Erdogan's election win, as investors await signs of a policy shift. The IMF continues to push Pakistan to loosen its currency market in talks over the continuation of its US$6.7bn bailout. Nigeria...

Kazakhstan's central bank left rates unchanged today, despite the recent fall in yoy inflation. Beneath the surface, Kazakhstan's inflation remains hot, with both mom and yoy rates still well above those of peers. Inflationary momentum will take time...

Even without arrears on US debt, uncertainty and other spending cuts could hurt global liquidity and EM growth prospects. In downside scenarios, any flight to safety benefit from lower US bond yields to be offset by wider EM risk premia. Though our b...